|   |  The Honourable Ken KrawetzDeputy PremierMinister of Finance |   |
|--------|-------------------------------------------------------------------|--------|
|   |                                |   |
|   | SASKATCHEWAN BUDGET UPDATE                                   |   |
|   | 13-14                                                             |   |
|   |                                                              |   |
|   | BALANCED GROWTH                                                   |   |
|   |  1ST QUARTERFINANCIAL REPORT                                 |   |

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|   | 1st Quarter Financial ReportGovernment of SaskatchewanAugust 8, 2013 |   |
|--------|----------------------------------------------------------------------|--------|

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| 2013-14 1st Quarter Financial ReportGeneral Revenue Fund Update |
|-----------------------------------------------------------------|

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| ▪ | Potash production was up 18.9 per cent in the first five months of 2013 over the same period last year, reflecting improved demand in most major potash markets. |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ▪   | Employment growth has been stronger-than-expected, averaging 20,900 more jobs through the first half of 2013 than in the first half of 2012.  This 3.9 per cent job growth is the fastest rate in the nation.  And, the unemployment rate has averaged 4.0 per cent over the same period – the lowest rate in the nation. |
|---------------------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ▪ | average employment weekly earnings; |
|---------|-------------------------------------|

| ▪ | value of manufacturing sales; and, |
|---------|------------------------------------|

| ▪ | value of wholesale trade. |
|---------|---------------------------|

| Saskatchewan Economic Indicators                    |   |
|-----------------------------------------------------|--------|
|                                                |   |   |   |   |   |   |   |   |   |   |   | Change from |   |   |
|                                                |   | 2011 |   |   | 2012 |   |   | 2013 |   |   |   | 2012 |   |   |
| Population at July 1 (000s)                         |   |   | 1,057.8 |   |   | 1,080.0 |   |   | 1,093.9* |   |   |   | 20.8* |   |   |
|                                                |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                |   |   |   |   |   |   |   |   |   |   | 2013 |   |   |   | January |   |   |
| Per Cent Change Unless Noted Otherwise              |   |   | 2011 |   |   |   | 2012 |   |   |   | (year-to-date) |  Ranking |   |  through |   |   |
| Employment growth (000s)                            |   |   | 1.4 |   |   |   | 11.4 |   |   |   | 20.9 |   | 1st** |   | June |   |   |
| Unemployment rate (%)                               |   |   | 5.0 |   |   |   | 4.7 |   |   |   | 4.0 |   | lowest |   | June |   |   |
| Consumer Price Index                                |   |   | 2.8 |   |   |   | 1.6 |   |   |   | 1.2 |   | 6th lowest |   | June |   |   |
| Average employment weekly earnings                  |   |   | 3.8 |   |   |   | 4.8 |   |   |   | 4.1 |   | 1st |   | May |   |   |
| Value of manufacturing sales                        |   |   | 16.8 |   |   |   | 14.0 |   |   |   | 5.9 |   | 1st |   | May |   |   |
| Value of international exports                      |   |   | 25.1 |   |   |   | 9.9 |   |   |   | 6.8 |   | 2nd |   | May |   |   |
| Value of retail sales                               |   |   | 7.5 |   |   |   | 7.6 |   |   |   | 4.1 |   | 3rd |   | May |   |   |
| Value of wholesale trade                            |   |   | 22.2 |   |   |   | 2.5 |   |   |   | 10.6 |   | 1st |   | May |   |   |
| Number of new vehicles sold                         |   |   | 7.3 |   |   |   | 10.6 |   |   |   | 5.3 |   | 5th |   | May |   |   |
| Value of building permits                           |   |   | 25.9 |   |   |   | 19.1 |   |   |   | -4.0 |   | 3rd |   | May |   |   |
| Number of housing starts                            |   |   | 19.0 |   |   |   | 41.8 |   |   |   | -22.0 |   | 8th |   | Mar |   |   |
| Investment in new housing construction              |   |   | 48.5 |   |   |   | 35.0 |   |   |   | 13.6 |   | 3rd |   | May |   |   |
| Investment in non-residential building construction |   |   | -3.9 |   |   |   | 22.4 |   |   |   | 2.8 |   | 5th |   | June |   |   |

| Source: Statistics Canada |
|---------------------------|
| *                         |  As of April 1, 2013. Change is from April 2012 to April 2013. |
| **                        |  in terms of per cent change |

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| Exchange Rate Forecasts (July 16, 2013) |
|-----------------------------------------|
| US cents                                | 2013 | 2014 |
| Global Insight                          | 97.60 | 96.60 |
| Conference Board                        | 98.00 | 98.00 |
| TD                                      | 94.80 | 91.30 |
| RBC                                     | 96.20 | 98.00 |
| BMO                                     | 96.90 | 95.40 |
| CIBC                                    | 94.30 | 97.50 |
| Scotia Bank                             | 95.20 | 97.10 |
| Average                                 | 96.14 | 96.27 |
| 2013-14 Budget                          | 98.80 | 99.80 |

| Private Sector Real GDP Growth Forecasts For Saskatchewan |   |
|-----------------------------------------------------------|--------|
| (Per Cent Change)                                         | 2013   | 2014 | Release Date |
| TD Bank                                                   | 2.6    | 3.0 | Jul-13 |
| IHS Global Insight                                        | 2.3    | 2.6 | Jul-13 |
| Conference Board of Canada                                | 3.9    | 2.7 | Jun-13 |
| Scotiabank                                                | 2.8    | 2.9 | Jun-13 |
| RBC                                                       | 2.9    | 3.7 | Jun-13 |
| Laurentian Bank                                           | 2.0    | 2.7 | Jun-13 |
| BMO                                                       | 2.4    | 2.8 | May-13 |
| The Centre for Spatial Economics                          | 3.1    | 3.4 | Mar-13 |
| CIBC                                                      | 2.4    | 2.9 | Jan-13 |
| Average of Private Sector Forecasts                       | 2.7    | 3.0 |   |
| 2013-14 Budget Forecast                                   | 2.6    | 3.1 |   |

| ▪   | Stronger-than-expected oil prices, combined with a weaker-than-expected US dollar exchange rate, are expected to increase oil revenue by more than enough to offset reduced revenue from Crown land sales, potash and Provincial Sales Tax. |
|---------------------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ▪   | Expenses continue to be managed effectively, with the only substantive increase in spending expected for disaster assistance. |
|---------------------|-------------------------------------------------------------------------------------------------------------------------------|

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|   | revenue is up $11.8 million or 0.1 per cent from budget; and, |
|--------|--------------------------------------------------------------------|

|   | expense is up $43.6 million or 0.4 per cent from budget. |
|--------|---------------------------------------------------------------|

| 2013-14 GRF 1st Quarter Financial Overview    |   |                  |
|-----------------------------------------------|--------|-----------------------|
|                                          |   | Budget                |   |   | 1st Quarter |   |   | Change from |   |   |
|                                          |   | Estimate              |   |   | Forecast |   |   | Budget |   |   |
|                                          |   | (millions of dollars) |   |   |
| Revenue                                       |   |                  | 11,607.3 |   |   |   | 11,619.1 |   |   |   | 11.8 |   |   |
| Expense                                       |   |                  | 11,542.5 |   |   |   | 11,586.1 |   |   |   | 43.6 |   |   |
| Pre-Transfer Surplus                          |   |                  | 64.8 |   |   |   | 33.0 |   |   |   | (31.8 | ) |   |
|     Transfer (to) GFSF         |   |                  | (32.4 | ) |   |   | (16.5 | ) |   |   | 15.9 |   |   |
|     Transfer from GFSF         |   |                  | - |   |   |   | - |   |   |   | - |   |   |
| Net Transfer from (to) GFSF                   |   |                  | (32.4 | ) |   |   | (16.5 | ) |   |   | 15.9 |   |   |
| GRF Surplus                                   |   |                  | 32.4 |   |   |   | 16.5 |   |   |   | (15.9 | ) |   |
|                                          |   |                  |   |   |   |   |   |   |   |   |   |   |   |
| GFSF Opening Balance *                        |   |                  | 662.7 |   |   |   | 666.3 |   |   |   | 3.6 |   |   |
|     Net Transfer from (to) GRF |   |                  | 32.4 |   |   |   | 16.5 |   |   |   | (15.9 | ) |   |
| GFSF Balance                                  |   |                  | 695.1 |   |   |   | 682.8 |   |   |   | (12.3 | ) |   |
|     GFSF Balance - Security    |   |                  | 512.7 |   |   |   | 516.3 |   |   |   | 3.6 |   |   |
|     GFSF Balance - Growth      |   |                  | 182.4 |   |   |   | 166.5 |   |   |   | (15.9 | ) |   |
|                                          |   |                  |   |   |   |   |   |   |   |   |   |   |   |
| Government General Public Debt **             |   |                  | 3,804.8 |   |   |   | 3,804.8 |   |   |   | - |   |   |

| *  | 1st Quarter Forecast of 2013-14 opening balance has been adjusted to reflect 2012-13 actual transfers to the GFSF.  |   |   |
|----|--------------------------------------------------------------------------------------------------------------------------|--------|--------|
| ** | Budget Estimate figure has been adjusted to reflect the 2012-13 actual level.                                            |   |   |

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| Revenue Reconciliation                 |   |
|----------------------------------------|--------|
| (millions of dollars)                  |   |
|                                   |   |   |   |
| Budget Estimate                        |   | $ | 11,607.3 |   |
| First Quarter Changes                  |   |   |   |   |
|    Oil                  |   |   | + 92.0 |   |
|    Natural Gas          |   |   | + 1.7 |   |
|    Crown Land Sales     |   |   | - 45.6 |   |
|    Potash               |   |   | - 21.3 |   |
|    Provincial Sales Tax |   |   | - 15.0 |   |
| Total Change                           |   |   | + 11.8 |   |
|                                   |   |   |   |   |
| 1st Quarter Forecast                   |   | $ | 11,619.1 |   |

| 2013-14 Fiscal Year Key Resource Forecast Assumptions |   |
|-------------------------------------------------------|--------|
|                                                  |   | Budget |   | 1st Quarter |   |
|                                                  |   | Estimate |   | Forecast |   |
| WTI Oil Price (US$ per barrel)                        |   |   | 92.84 |   |   | 95.03 |   |
| Well-head Oil Price (C$ per barrel)1                  |   |   | 75.29 |   |   | 80.01 |   |
| Oil Production (millions of barrels)                  |   |   | 171.8 |   |   | 173.0 |   |
| Total Oil Revenue ($Millions)                         |   |   | 1,441.2 |   |   | 1,533.2 |   |
| Potash Price (mine netback, US$ per KCl tonne)2       |   |   | 395 |   |   | 372 |   |
| Potash Price (mine netback, C$ per K2O tonne)2        |   |   | 654 |   |   | 636 |   |
| Potash Sales (million K2O tonnes)                     |   |   | 10.4 |   |   | 10.4 |   |
| Total Potash Revenue ($Millions)                      |   |   | 519.9 |   |   | 498.6 |   |
| Fieldgate Natural Gas Price (C$ per gigajoule)        |   |   | 3.07 |   |   | 3.36 |   |
| Natural Gas Production (billion cubic feet)           |   |   | 123.1 |   |   | 122.3 |   |
| Total Natural Gas Revenue ($Millions)                 |   |   | 9.6 |   |   | 11.3 |   |
| Canadian Dollar (US cents)                            |   |   | 98.92 |   |   | 96.00 |   |

| 1 | The average price per barrel of Saskatchewan light, medium and heavy oil. |   |
|---|---------------------------------------------------------------------------|--------|
| 2 | Ministry of Finance calculations derived from calendar-year forecasts.    |   |

| ▪ | Crown land sales revenue is forecast to decrease by $45.6 million resulting from lower-than-expected year-to-date sales, primarily due to an industry reallocation of capital towards drilling for lease continuance and development purposes, combined with concerns regarding transportation of crude oil to market. |
|---------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| ▪ | Oil is forecast to increase by $92.0 million, primarily due to a higher average West Texas Intermediate (WTI) oil price forecast, a lower exchange rate forecast, a smaller light-heavy differential and an increase in production. |
|---------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| WTI Price Forecasts (July 19, 2013) |
|-------------------------------------|
| $US/barrel                          | 2013 | 2014 |
| BMO                                 | 96.00 | 99.00 |
| EIA                                 | 94.65 | 91.96 |
| GLJ                                 | 94.52 | 95.00 |
| NYMEX Futures                       | 99.75 | 95.33 |
| Scotia Bank                         | 95.00 | 98.00 |
| Sproule                             | 94.67 | 91.44 |
| TD                                  | 94.00 | 94.25 |
| Average (Confidential Forecasts)*   | 94.83 | 93.86 |
| Average                             | 95.31 | 94.66 |

| * | The Ministry of the Economy receives, in confidence, other private sector forecasts. |
|---|--------------------------------------------------------------------------------------|

| ▪ | Potash is forecast to decrease by $21.3 million, primarily due to a $20.0 million sensitivity adjustment to account for uncertainty arising from recent global potash market developments. |
|---------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Expense Reconciliation                 |   |
|----------------------------------------|--------|
| (millions of dollars)                  |   |
|                                   |   |   |   |
| Budget Estimate                        |   | $ | 11,542.5 |   |
| First Quarter Changes                  |   |   |   |   |
|    Government Relations |   |   | + 43.6 |   |
| Total Change*                          |   |   | + 43.6 |   |
|                                   |   |   |   |   |
| 1st Quarter Forecast                   |   | $ | 11,586.1 |   |

| * | Total Change includes small changes for the Legislative Assembly ($28K) and the Provincial Auditor ($7K). |   |
|---|-----------------------------------------------------------------------------------------------------------|--------|

| ▪ | Government Relations is up $43.6 million from budget for the Provincial Disaster Assistance Program, mainly related to 2013 claims and outstanding prior-year claims. |
|---------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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| 2013-14 1st Quarter Debt Overview                          |   |
|------------------------------------------------------------|--------|
|                                                       |   |   |   |   | As at March 31, 2014 |   |   | Change from |   |   |
|                                                       |   |   | 2012-13 |   |   | Budget |   |   | 1st Quarter |   |   |   | 2012-13 |   |   | Budget |   |   |
| Debt as at March 31                                        |   | Actual |   |   | Estimate |   |   | Forecast |   |   | Actual |   |   | Estimate |   |   |
|                                                       |   | (millions of dollars) |   |   |
| GRF Government General Public Debt                         |   |   | 3,804.8 |   |   |   | 3,807.6 |   |   |   | 3,804.8 |   |   |   | - |   |   |   | (2.8 | ) |   |
| GRF Crown Corporation Public Debt                          |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|     Crown Corporation General               |   |   | 886.5 |   |   |   | 731.2 |   |   |   | 626.5 |   |   |   | (260.0 | ) |   |   | (104.7 | )  |   |
|     Government Business Enterprise Specific |   |   | 4,487.9 |   |   |   | 5,532.7 |   |   |   | 5,753.2 |   |   |   | 1,265.3 |   |   |   | 220.5 |   |   |
| GRF Crown Corporation Public Debt                          |   |   | 5,374.4 |   |   |   | 6,263.9 |   |   |   | 6,379.7 |   |   |   | 1,005.3 |   |   |   | 115.8 |   |   |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| GRF Public Debt                                            |   |   | 9,179.2 |   |   |   | 10,071.5 |   |   |   | 10,184.5 |   |   |   | 1,005.3 |   |   |   | 113.0 |   |   |
| Guaranteed Debt                                            |   |   | 132.0 |   |   |   | 183.1 |   |   |   | 185.5 |   |   |   | 53.5 |   |   |   | 2.4 |   |   |

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| 2013-14 First Quarter Financial Report        |   |                   |       |   |        |   |       |        |   |
|-----------------------------------------------|--------|------------------------|------------|--------|-------------|--------|------------|-------------|--------|
| Province of Saskatchewan                      |   |                   |       |   |        |   |       |        |   |
| General Revenue Fund                          |   |                   |       |   |        |   |       |        |   |
| Schedule of Revenue                           |   |                   |       |   |        |   |       |        |   |
|                                          |   | Budget                 |       |   | 1st Quarter |   |       | Change from |   |
|                                          |   | Estimate               |       |   | Forecast    |   |       | Budget      |   |
|                                          |   | (thousands of dollars) |       |
|                                          |   |                   |       |   |        |   |       |        |   |
| Corporation Income                            |   |                   | 986,800    |   |        |   | 986,800    |        |   |   | - |   |
| Fuel                                          |   |                   | 526,100    |   |        |   | 526,100    |        |   |   | - |   |
| Individual Income                             |   |                   | 2,445,500  |   |        |   | 2,445,500  |        |   |   | - |   |
| Provincial Sales                              |   |                   | 1,401,400  |   |        |   | 1,386,400  |        |   |   | (15,000 | ) |
| Tobacco                                       |   |                   | 295,300    |   |        |   | 295,300    |        |   |   | - |   |
| Other                                         |   |                   | 336,500    |   |        |   | 336,500    |        |   |   | - |   |
| Taxes                                         |   |                   | 5,991,600  |   |        |   | 5,976,600  |        |   |   | (15,000 | ) |
|                                          |   |                   |       |   |        |   |       |        |   |   |   |   |
| Crown Land Sales                              |   |                   | 111,400    |   |        |   | 65,800     |        |   |   | (45,600 | ) |
| Natural Gas                                   |   |                   | 9,600      |   |        |   | 11,300     |        |   |   | 1,700 |   |
| Oil                                           |   |                   | 1,441,200  |   |        |   | 1,533,200  |        |   |   | 92,000 |   |
| Potash                                        |   |                   | 519,900    |   |        |   | 498,600    |        |   |   | (21,300 | ) |
| Resource Surcharge                            |   |                   | 488,800    |   |        |   | 488,800    |        |   |   | - |   |
| Other                                         |   |                   | 99,700     |   |        |   | 99,700     |        |   |   | - |   |
| Non-Renewable Resources                       |   |                   | 2,670,600  |   |        |   | 2,697,400  |        |   |   | 26,800 |   |
|                                          |   |                   |       |   |        |   |       |        |   |   |   |   |
| Crown Investments Corporation of Saskatchewan |   |                   | 180,000    |   |        |   | 180,000    |        |   |   | - |   |
| - Special Dividend                            |   |                   | 16,600     |   |        |   | 16,600     |        |   |   | - |   |
| Saskatchewan Liquor and Gaming Authority      |   |                   | 491,800    |   |        |   | 491,800    |        |   |   | - |   |
| Other Enterprises and Funds                   |   |                   | 60,300     |   |        |   | 60,300     |        |   |   | - |   |
| Transfers from Crown Entities                 |   |                   | 748,700    |   |        |   | 748,700    |        |   |   | - |   |
|                                          |   |                   |       |   |        |   |       |        |   |   |   |   |
| Fines, Forfeits and Penalties                 |   |                   | 19,400     |   |        |   | 19,400     |        |   |   | - |   |
| Investment Income                             |   |                   | 89,400     |   |        |   | 89,400     |        |   |   | - |   |
| Motor Vehicle Fees                            |   |                   | 183,300    |   |        |   | 183,300    |        |   |   | - |   |
| Other Licences and Permits                    |   |                   | 26,200     |   |        |   | 26,200     |        |   |   | - |   |
| Sales, Services and Service Fees              |   |                   | 132,800    |   |        |   | 132,800    |        |   |   | - |   |
| Transfers from Other Governments              |   |                   | 16,900     |   |        |   | 16,900     |        |   |   | - |   |
| Other                                         |   |                   | 100,000    |   |        |   | 100,000    |        |   |   | - |   |
| Other Revenue                                 |   |                   | 568,000    |   |        |   | 568,000    |        |   |   | - |   |
| Own-Source Revenue                            |   |                   | 9,978,900  |   |        |   | 9,990,700  |        |   |   | 11,800 |   |
|                                          |   |                   |       |   |        |   |       |        |   |   |   |   |
| Canada Health Transfer                        |   |                   | 959,200    |   |        |   | 959,200    |        |   |   | - |   |
| Canada Social Transfer                        |   |                   | 377,900    |   |        |   | 377,900    |        |   |   | - |   |
| Other                                         |   |                   | 291,300    |   |        |   | 291,300    |        |   |   | - |   |
| Transfers from the Government of Canada       |   |                   | 1,628,400  |   |        |   | 1,628,400  |        |   |   | - |   |
| Revenue                                       |   |                   | 11,607,300 |   |        |   | 11,619,100 |        |   |   | 11,800 |   |
|                                          |   |                   |       |   |        |   |       |        |   |   |   |   |

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| 2013-14 First Quarter Financial Report       |   |                   |       |   |        |   |       |        |   |
|----------------------------------------------|--------|------------------------|------------|--------|-------------|--------|------------|-------------|--------|
| Province of Saskatchewan                     |   |                   |       |   |        |   |       |        |   |
| General Revenue Fund                         |   |                   |       |   |        |   |       |        |   |
| Schedule of Expense                          |   |                   |       |   |        |   |       |        |   |
|                                         |   | Budget                 |       |   | 1st Quarter |   |       | Change from |   |
|                                         |   | Estimate               |       |   | Forecast    |   |       | Budget      |   |
|                                         |   | (thousands of dollars) |       |
| Ministries and Agencies                      |   |                   |       |   |        |   |       |        |   |
| Advanced Education                           |   |                   | 787,716    |   |        |   | 787,716    |        |   |   | - |   |
| Agriculture                                  |   |                   | 406,860    |   |        |   | 406,860    |        |   |   | - |   |
| Central Services                             |   |                   | 74,045     |   |        |   | 74,045     |        |   |   | - |   |
| Economy                                      |   |                   | 275,517    |   |        |   | 275,517    |        |   |   | - |   |
| Education                                    |   |                   | 1,381,540  |   |        |   | 1,381,540  |        |   |   | - |   |
|  - Teachers' Pensions and Benefits      |   |                   | 321,944    |   |        |   | 321,944    |        |   |   | - |   |
| Environment                                  |   |                   | 163,275    |   |        |   | 163,275    |        |   |   | - |   |
| Executive Council                            |   |                   | 17,818     |   |        |   | 17,818     |        |   |   | - |   |
| Finance                                      |   |                   | 68,788     |   |        |   | 68,788     |        |   |   | - |   |
|  - Public Service Pensions and Benefits |   |                   | 291,076    |   |        |   | 291,076    |        |   |   | - |   |
| Finance Debt Servicing                       |   |                   | 340,000    |   |        |   | 340,000    |        |   |   | - |   |
| Government Relations                         |   |                   | 477,309    |   |        |   | 520,895    |        |   |   | 43,586 |   |
| Health                                       |   |                   | 4,841,661  |   |        |   | 4,841,661  |        |   |   | - |   |
| Highways and Infrastructure                  |   |                   | 423,336    |   |        |   | 423,336    |        |   |   | - |   |
| Innovation Saskatchewan                      |   |                   | 28,006     |   |        |   | 28,006     |        |   |   | - |   |
| Justice                                      |   |                   | 541,975    |   |        |   | 541,975    |        |   |   | - |   |
| Labour Relations and Workplace Safety        |   |                   | 18,440     |   |        |   | 18,440     |        |   |   | - |   |
| Parks, Culture and Sport                     |   |                   | 104,765    |   |        |   | 104,765    |        |   |   | - |   |
| Saskatchewan Research Council                |   |                   | 19,743     |   |        |   | 19,743     |        |   |   | - |   |
| SaskBuilds Corporation                       |   |                   | 8,300      |   |        |   | 8,300      |        |   |   | - |   |
| Social Services                              |   |                   | 889,607    |   |        |   | 889,607    |        |   |   | - |   |
| Water Security Agency                        |   |                   | 15,480     |   |        |   | 15,480     |        |   |   | - |   |
|                                         |   |                   |       |   |        |   |       |        |   |   |   |   |
| Legislative Assembly and its Officers        |   |                   |       |   |        |   |       |        |   |   |   |   |
| Chief Electoral Officer                      |   |                   | 2,195      |   |        |   | 2,195      |        |   |   | - |   |
| Children's Advocate                          |   |                   | 3,800      |   |        |   | 3,800      |        |   |   | - |   |
| Conflict of Interest Commissioner            |   |                   | 148        |   |        |   | 148        |        |   |   | - |   |
| Information and Privacy Commissioner         |   |                   | 1,116      |   |        |   | 1,116      |        |   |   | - |   |
| Legislative Assembly                         |   |                   | 26,257     |   |        |   | 26,285     |        |   |   | 28 |   |
| Ombudsman                                    |   |                   | 3,354      |   |        |   | 3,354      |        |   |   | - |   |
| Provincial Auditor                           |   |                   | 8,457      |   |        |   | 8,464      |        |   |   | 7 |   |
|                                         |   |                   |       |   |        |   |       |        |   |   |   |   |
| Expense                                      |   |                   | 11,542,528 |   |        |   | 11,586,149 |        |   |   | 43,621 |   |
|                                         |   |                   |       |   |        |   |       |        |   |   |   |   |

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| 2013-14 First Quarter Financial Report              |   |                   |       |   |        |   |       |          |   |
|-----------------------------------------------------|--------|------------------------|------------|--------|-------------|--------|------------|---------------|--------|
| Province of Saskatchewan                            |   |                   |       |   |        |   |       |          |   |
| General Revenue Fund                                |   |                   |       |   |        |   |       |          |   |
| Schedule of Debt                                    |   |                   |       |   |        |   |       |          |   |
|                                                |   |                   |       |   | 2013-14     |   |       | Change from   |   |
|                                                |   |  2012-13          |       |   | 1st Quarter |   |       |  2012-13 |   |
| Debt as at March 31                                 |   | Actual                 |       |   | Forecast    |   |       | Actual        |   |
|                                                |   | (thousands of dollars) |       |
|                                                |   |                   |       |   |        |   |       |          |   |   |   |   |
| Government General Public Debt                      |   |                   | 3,804,817  |   |        |   | 3,804,817  |          |   |   | - |   |
|                                                |   |                   |       |   |        |   |       |          |   |   |   |   |
| Crown Corporation General Debt                      |   |                   |       |   |        |   |       |          |   |   |   |   |
| Information Services Corporation of Saskatchewan    |   |                   | 9,935      |   |        |   | -          |          |   |   | (9,935 | ) |
| Municipal Financing Corporation of Saskatchewan     |   |                   | 15,289     |   |        |   | 15,289     |          |   |   | - |   |
| Saskatchewan Housing Corporation                    |   |                   | 25,282     |   |        |   | 23,679     |          |   |   | (1,603 | ) |
| Saskatchewan Liquor and Gaming Authority            |   |                   | 125,064    |   |        |   | -          |          |   |   | (125,064 | ) |
| Saskatchewan Opportunities Corporation              |   |                   | 35,291     |   |        |   | 34,860     |          |   |   | (431 | ) |
| Saskatchewan Power Corporation                      |   |                   | 95,303     |   |        |   | 94,086     |          |   |   | (1,217 | ) |
| Saskatchewan Telecommunications Holding Corporation |   |                   | 157,000    |   |        |   | 89,600     |          |   |   | (67,400 | ) |
| Saskatchewan Water Corporation                      |   |                   | 16,203     |   |        |   | 15,603     |          |   |   | (600 | ) |
| SaskEnergy Incorporated                             |   |                   | 407,117    |   |        |   | 353,400    |          |   |   | (53,717 | ) |
| Crown Corporation General Public Debt               |   |                   | 886,484    |   |        |   | 626,517    |          |   |   | (259,967 | ) |
|                                                |   |                   |       |   |        |   |       |          |   |   |   |   |
| Government Business Enterprise Specific Debt        |   |                   |       |   |        |   |       |          |   |   |   |   |
| Municipal Financing Corporation of Saskatchewan     |   |                   | 132,377    |   |        |   | 242,642    |          |   |   | 110,265 |   |
| Saskatchewan Gaming Corporation                     |   |                   | 6,000      |   |        |   | 6,000      |          |   |   | - |   |
| Saskatchewan Liquor and Gaming Authority            |   |                   | -          |   |        |   | 125,000    |          |   |   | 125,000 |   |
| Saskatchewan Power Corporation                      |   |                   | 3,251,648  |   |        |   | 4,041,273  |          |   |   | 789,625 |   |
| Saskatchewan Telecommunications Holding Corporation |   |                   | 495,754    |   |        |   | 634,636    |          |   |   | 138,882 |   |
| Saskatchewan Water Corporation                      |   |                   | 32,044     |   |        |   | 42,964     |          |   |   | 10,920 |   |
| SaskEnergy Incorporated                             |   |                   | 570,055    |   |        |   | 660,657    |          |   |   | 90,602 |   |
| Government Business Enterprise Specific Public Debt |   |                   | 4,487,878  |   |        |   | 5,753,172  |          |   |   | 1,265,294 |   |
| Public Debt                                         |   |                   | 9,179,179  |   |        |   | 10,184,506 |          |   |   | 1,005,327 |   |
|                                                |   |                   |       |   |        |   |       |          |   |   |   |   |
| Public Debt by Category                             |   |                   |       |   |        |   |       |          |   |   |   |   |
| Government General Gross Debt                       |   |                   | 5,025,494  |   |        |   | 4,869,873  |          |   |   | (155,621 | ) |
| Government General Sinking Funds                    |   |                   | (1,220,677 | )      |        |   | (1,065,056 | )             |   |   | 155,621 |   |
| Government General Public Debt                      |   |                   | 3,804,817  |   |        |   | 3,804,817  |          |   |   | - |   |
|                                                |   |                   |       |   |        |   |       |          |   |   |   |   |
| Crown Corporation Gross Debt                        |   |                   | 5,988,403  |   |        |   | 7,027,157  |          |   |   | 1,038,754 |   |
| Crown Corporation Sinking Funds                     |   |                   | (614,041   | )      |        |   | (647,468   | )             |   |   | (33,427 | ) |
| Crown Corporation Public Debt                       |   |                   | 5,374,362  |   |        |   | 6,379,689  |          |   |   | 1,005,327 |   |
| Public Debt                                         |   |                   | 9,179,179  |   |        |   | 10,184,506 |          |   |   | 1,005,327 |   |
|                                                |   |                   |       |   |        |   |       |          |   |   |   |   |
| Guaranteed Debt                                     |   |                   | 132,014    |   |        |   | 185,517    |          |   |   | 53,503 |   |
|                                                |   |                   |       |   |        |   |       |          |   |   |   |   |

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